Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277279 
Year of Publication: 
2013
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 10 [Issue:] 3 [Year:] 2013 [Pages:] 299-312
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
This paper provides an empirical analysis of Marx's theory of exploitation built on the standard interpretation of the value of labour power. The relationship between the aggregate value rate of profit and the aggregate price rate of profit is studied and it is shown that the two rates coincide up to negligible deviations by using flow as well as stock matrix data for the German economy (1991–2000). This suggests that the main determinants of the value rate – namely absolute and relative surplus value, as well as technical progress affecting the value of the aggregate capital stock – may help to understand the dynamics of the aggregate market rate of profit.
Subjects: 
labour values
profit rates
input–output models
JEL: 
B51
C67
D46
D57
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.